Stevens v. Commissioner
United States Board of Tax Appeals
Held, that the petitioner created a parol trust for his son and daughter with respect to a portion of the stock appearing of record in his name, and two-thirds of the dividends from such stock should be excluded from his gross income.
1Opinion of the Court
*53OPINION.
Teammell :
We have found as a fact that the petitioner created a parol trust making himself trustee for his son and daughter for two-thirds of the shares of stock owned by him in the Stevens Brothers Corporation. We think that all of the evidence supports this fact. The Commissioner relies upon the fact that the petitioner retained the stock in his own name, had control of it, and that the dividends were paid to him. The respondent also argues that the fact that the petitioner undertook to have the corporation make the checks payable to his son and daughter and the refusal to do so…
2Cases cited5 opinions
- Koch v. StreuterIllinois Supreme Court · 1908
- Burbach v. BurbachIllinois Supreme Court · 1905
- Maher v. AldrichIllinois Supreme Court · 1903
- Walden v. KarrIllinois Supreme Court · 1878
- Clapp v. EmeryIllinois Supreme Court · 1881
3Cited by3 opinions
- Handly v. CommissionerUnited States Board of Tax Appeals · 1934
- Handly v. CommissionerUnited States Board of Tax Appeals · 1934
- Stevens v. CommissionerUnited States Board of Tax Appeals · 1931